Funding you earn now, next payment 00:00 UTC−0.0518%/8h= −56.7% APRnext payment −$0.65 per $10,000 · paid last 24h +0.624%
Price spread now: Injective against Backpack+0.184%72s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+3.377%+$338 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 0.184% dearer against Backpack than usual: you sell high and buy low (spread +0.184% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 7 days funding on this pair paid +3.377%, so the current rate has only just turned against you. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack TAO_USDC_PERP | 314.37 | 0.0551 | pay 0.0069% / 1h | 31m 35s | $298K | $801K | 10x |
| Short | Injective TAO/USDC PERP | 314.95 | 0.0033 | get 0.0004% / 1h | 31m 35s | $23K | $361 | 12x |
Backpack TAO_USDC_PERP
Injective TAO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$108.74
- Price spread: +0.184% → 0.000%
- $18.45
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$100.31
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 47 min ago; Injective: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 47 min ago | 1.96 bp | 7.0 bp −$7 | 40.6 bp −$406 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
TAO on 43 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.4478% | 1h | 313.97 | −0.127% | $168K | $48K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 313.81 | −0.179% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.96 | −0.132% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERPshort | +0.0033% | 1h | 314.95 | +0.184% | $23K | $361 | 12x | |
| Deribit TAO_USDC-PERPETUAL | +0.0075% | 1h | 314.16 | −0.066% | $25K | $1.5M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.05 | −0.102% | $34K | $564K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.08 | −0.092% | $372K | $369K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.96 | −0.130% | $89.2M | $425.9M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 314.10 | −0.086% | $61.6M | $124.7M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 313.60 | −0.245% | $25.3M | $101.5M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAPShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TAO_USDT | +0.0100% | 4h | 313.90 | −0.150% | $12.8M | $49.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 313.99 | −0.121% | $110.4M | $129.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.03 | −0.108% | $18.9M | $27.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.46 | −0.289% | $34.9M | $46.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.08 | −0.092% | — | $30.2M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.36 | +0.314% | $41K | $281K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 315.48 | +0.354% | $523K | $956K | 10x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 313.79 | −0.184% | $11K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 314.20 | −0.054% | $60K | $275K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.10 | −0.086% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.87 | +0.159% | $127K | $400K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 314.19 | −0.057% | $3.4M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.30 | −0.021% | $173K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 314.09 | −0.089% | $1K | $549K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0124% | 1h | 313.92 | −0.143% | $77K | $489K | 5x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 314.30 | −0.022% | $83K | $606K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0192% | 1h | 315.38 | +0.321% | $47K | $267K | 50x | as long as short |
| Variational Omni TAO | +0.0194% | 4h | 314.76 | +0.124% | $4.0M | $7.0M | — | as long as short |
| Paradex TAO-USD-PERP | +0.0195% | 8h | 314.10 | −0.086% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0206% | 4h | 313.95 | −0.133% | $1.1M | $7.9M | 50x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 315.81 | +0.458% | $4.4M | $10.4M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0448% | 1h | 313.93 | −0.140% | $5.7M | $19.9M | 50x | as long as short |
| Nado TAO-PERP | +0.0455% | 1h | 313.94 | −0.138% | $830K | $2.0M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0477% / S −0.0175% | 1h | 313.81 | −0.177% | $450K | — | 100x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 315.20 | +0.264% | $330K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0551% | 1h | 314.37 | long leg | $298K | $801K | 10x | |
| 01 Exchange TAOUSD | +0.0664% | 1h | 314.24 | −0.041% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 313.67 | −0.223% | $361 | — | 20x | as long as short |
| Extended TAO-USD | +0.0880% | 1h | 314.02 | −0.112% | $864K | $2.1M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 315.70 | +0.423% | $1.5M | $5.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 314.18 | −0.062% | $452K | $560K | 5x | as long as short |
| Lighter TAO | +0.1312% | 1h | 314.47 | +0.033% | $1.6M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.1797% | 1h | 314.32 | −0.016% | $97.9M | $83.7M | 5x | as long as short |
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Arcus TAO-USD
ApeX Omni TAOUSDT
Variational Omni TAO
Paradex TAO-USD-PERP
Aster TAOUSDT
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Nado TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO